Do you own a condominium unit for investment purposes? Do you know that there are a lot of ways that you can do to make it a profitable business?
You may want to consider renting your condo unit or a short-term lease. Doing these may help address the demand for practical and affordable accommodation from both local and foreign tourists, the working class who are open to the concept of condo sharing and overseas workers who are in town for a short vacation. Renting a condo unit is a good venue for weekend parties and staycations. Property amenities such as the pool and gym should also be openly available to guests.
Renting a condo unit instead of a hotel has its own advantages which you can sell to your potential clients. Visit Bangkok condo finder for more ideas to help you jumpstart your business. It would be a great advantage if your unit is furnished with the basic appliances such as air conditioning, cable subscription, wifi access, microwave, coffee maker and kitchenware to give your guests a home away from home experience. View more here http://www.inluxeasia.com/EN/inluxeshowcase/property-for-rent/bangkok.
Advertise your unit under AirBnB for more potential clients. AirBnb is known worldwide for providing their clients with affordable accommodation in any country of their choice. You can also advertise your unit at Luxury Condo Bangkok for businessmen and expats visiting the country.
Create your public listing online by placing a brief description of your condo, the amenities you offer, rates and add some pictures. Provide the location of the condo including landmarks, your contact number as well as your e-mail address and be prepared to answer queries to the best of your knowledge.
Other developers also offer to help their tenants market their rental units so don’t hesitate to approach the property or marketing office to seek for options on how to get your condo listed in the market.
Another advantage of short-term rental is you can make your rental fees flexible by charging different rates depending on the length of stay so your contract will vary on each guest. You can generate more income in a month compared to having it leased long term because of the fixed monthly rental rate. Be open in providing different modes of payment such as PayPal, direct bank deposit, remittance and other options. Payment should be secured prior to the guests’ arrival.
If you are still paying for the unit then you can use your earnings to pay for the monthly amortization without having to worry about the funds. Anything in excess of your rental earnings can go to savings or investments.